Dec, 31, 2023 — BLACKHAWK AREA CREDIT UNION is a non-federally insured state credit union headquartered in SAVANNA, IL with 3 branch locations and about $40.05 million in total assets. Opened 89 years ago in 1935, BLACKHAWK AREA CREDIT UNION has about 3,951 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BLACKHAWK AREA CREDIT UNION |
|---|---|
| Address: (Main Office) | 214 Main St SAVANNA, IL 61074-1628 |
| Phone: | (815) 273-4503 |
| Fax: | (815) 273-3075 |
| Website: | https://www.bacu.org |
| Branches: | 3 branch locations |
| Members: | 3,951 |
| Credit Union Type: | Non-Federally Insured State Credit Union |
| Charter Number: | 95042 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $40,051,814 |
| CEO/Manager: | Rhonda M Schroeder |
| Chairperson: | Beth A Wiegmann |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,118,196 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,763,450 |
| Unsecured Loans | 747,422 |
| Other Loans | 16,365,872 |
| TOTAL LOANS | 30,876,744 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -245,824 |
| Land And Building | 150,543 |
| Other Fixed Assets | 72,439 |
| NCUSIF Deposit | 0 |
| All Other Assets | 0 |
| TOTAL ASSETS | 40,051,814 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 50,820 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -151,334 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,038,583 |
| Regular shares | 15,446,375 |
| All Other Shares & Deposits | 13,800,180 |
| TOTAL SHARES & DEPOSITS | 36,285,138 |
| TOTAL LIABILITIES | 36,184,624 |
| Regular Reserve | 0 |
| Other Reserves | -321,635 |
| Undivided Earnings | 4,188,825 |
| TOTAL EQUITY | 3,867,190 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 40,051,814 |
| INCOME & EXPENSE | |
| Loan Income | 1,461,307 |
| Investment Income | 316,328 |
| Other Income | 362,612 |
| Total Employee Compensation & Benefits | 828,620 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 709,646 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 28,406 |
| Cost of Funds | 68,408 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 536,800 |
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